Mortgage debt out of deceased estate?

Nearlyold

Keep_pedalling wrote: »

As the property is in negative equity it would make no difference to the potential beneficiary.

True but the OP also said this "The estate isn't insolvent, as the insurance policy will more than cover the debts (that I have found thus far)." It would depend on the value of this insurance policy.

belisama

Thanks - very useful input. I'll do some more research on the insurance policy - in many ways it would be easier if it is outwith the estate, as then the creditors can just be told 'sorry, no assets'. Also I'm looking into the cost of a probate lawyer (given that there's little money in the estate) and of administrator's indemnity insurance (which should cover me if anything goes wrong)

By 'more than covers' I mean it will cover the £20k +£15k (other debts) that I've found so far, with a little left over.

Kynthia

Are there any pensions that would outside of the estate to her son?

belisama

There is, so he'll have something from that at least. I'm just helping out as he is only young (but adult), and needs some support.